 |
 From
new construction for multi-family residential
properties ranging
from "for
sale" condominiums and "for rent" apartments,
to construction or gut renovation of office
buildings, self-storage and retail facilities,
Winter & Company has handled construction
loans for a wide array of project types.
For proposed construction or renovation of
multi-family rental properties, we have also
structured long-term fixed-rate permanent "take
out" loans even before the first shovel
breaks ground. In some cases, we have been
able to provide a forward commitment delivering
an early rate lock 18-24 months in advance
of a project's completion and stabilization.
This loan structure allows the Developer/Borrower
to include the debt-service component in
their budget and pro-forma, removing the
usual risk
and uncertainty with regard to where interest
rates will be by the time the project is
completed. This can be a major advantage
because the rate
for a permanent loan is typically not fixed
until the completion of a project.
We have also arranged both construction and
renovation loans for office buildings and for
self-storage projects. In most cases, we utilize
LIBOR-based floating-rate construction loans,
which typically require interest-only payments
during the construction period. Personal guarantees
are usually required for smaller scale projects,
while larger deals can often be placed with
limited personal guarantees, and in some cases
on a non-recourse basis.
Article: How to Successfully
Approach Your Construction Loan Request
Article: Bridge Lenders Are More Important Than Ever in Today's Challenging Market |
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